Amkor President and CEO Steve Kelley said the full ownership of J-Devices was always part of the company’s long-term strategic plan to strengthen relationships with the key semiconductor companies in Japan and enhance its position in the fast-growing automotive market. The company completed its acquisition Dec. 30.

“As a result, Amkor is now the world’s largest OSAT provider for automotive ICs, with around $750 million in combined automotive application revenue, ” Kelley said. “We believe that consolidating J-Devices with Amkor will facilitate the acceleration of synergies and cost savings across the organization.”

Amkor increased its ownership from 66 percent, and invested $202 million since 2009 to fully acquire J-Devices. The investment generated $84 million of equity in earnings for Amkor through Dec. 31.

Source: www.bizjournals.com

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